Nalco

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BHUBANESWAR: Odisha Chief Minister Naveen Patnaik today said there is no reason to go for disinvestment of Nalco, a Central Public Sector Enterprise under the Ministry of Mines. "Nalco is a profit making CPSU. I think that disinvestment should not take place there," Patnaik told reporters on his return from the national capital. The central government holds 80.93 per cent equity of Nalco which is a group 'A' CPSU having integrated and diversified operations in mining, metal and power with sales turnover of Rs 7,024 crore in 2013-14 fiscal.

BHUBANESWAR: National Aluminium Company (NALCO), a navaratna public sector undertaking, has achieved its highest gross turnover of Rs 7,774 crore in financial year 2014-15 as compared to Rs 7,024 crore achieved during previous fiscal. During the year, the gross turnover (provisional) of the Odisha-based aluminium major also surpassed the previous best performance of Rs 7,247 crore, achieved during 2012-13 fiscal, NALCO said in a statement issued here today. However, export earnings of the company have declined to Rs 3,307 crore in 2014-15 as against Rs 3,719 crore earned in last fiscal, it said.

NEW DELHI: The finance ministry on Friday said the government has approved stake sale in four state-run firms which may fetch it around Rs 22,574 crore. "The government has cleared 5 per cent stake sale in ONGC and Bhel, and 10 per cent stake sale in Nalco and NMDC," said minister of state for finance Jayant Sinha in Lok Sabha , adding that the Cabinet Committee on Economic Affairs (CCEA) has approved of sale of equity in these firms. The expected realisation, Sinha said, is based on the share prices on March 16, 2015 and after taking into account discount provide to retail investors.

BHUBANESWAR: Public sector aluminium major NALCO has declared an interim dividend of Rs 322.15 crore for the current fiscal on the paid up equity share capital of Rs 1288.62 crore. The dividend of 25 per cent - Rs.1.25 per share of Rs.5 each - was approved in the meeting of Nalco's Board of Directors held at New Delhi yesterday, a company release said here today. Navaratna PSU NALCO, which started its commercial operations in 1987 has been earning profits consistently and declaring dividends since 1992.

In a chat with ET Now, Prakash Gaba, CFT, prakashgaba.com, shares his view on National Aluminium. ET Now: What is your view on National Aluminium? Prakash Gaba: National Aluminium is a 'BUY' with a target of Rs 54 and a stop loss of Rs 49.

In a chat with ET Now, CFT, prakashgaba.com, shares his view on National Aluminium. ET Now: What is your view on National Aluminium? Prakash Gaba: National Aluminium is a 'BUY' with a target of Rs 54 and a stop loss of Rs 49.

NEW DELHI: The government is expected to decide on selling stake in three blue chip public sector companies — Nalco , Bhel and NMDC — on Thursday after its move to sell shares in IndianOil and ONGC have run into rough weather in the wake of low oil prices. The finance ministry has proposed a sale of 10% each in state-run mining firm NMDC and aluminum maker Nalco, while recommending a fresh 5% disinvest in heavy engineering major Bhel. Based on Wednesday's close on the Bombay Stock Exchange, sale of shares in the three companies is expected to fetch close to Rs 10,000 crore.

NEW DELHI: State-run aluminium maker Nalco today reported 170.5 per cent rise in net profit at Rs 354.47 crore for the quarter ended December 31, on the back of higher income from operations. Its net profit in the corresponding quarter of the last fiscal was Rs 131.03 crore, Nalco said in a BSE filing. The total income from operations of the company increased to Rs 1,906 crore, over Rs 1,643.87 crore in the October- December quarter of the last fiscal. However, the total expenses of the company came down to Rs 1,495.29 crore, as against Rs 1,570.31 crore in the year- ago period.

NEW DELHI: The government has received 69 requests from central and state public sector units for allocation of all but one of the 36 coal blocks on offer for them. NTPC , the country's biggest power company, applied for eight coal blocks. The Gare Palma Sector II coal mine attracted bids from nine companies - the maximum number - whereas no application was made for the Barjora (North) coal mine. Gare Palma Sector III, Utkal D and Utkal E coal blocks received bids from six companies, while Parsa East and Kanta Basan got five applications, an official statement said.

NEW DELHI: Government today sought merchant bankers to assist it in sale of its stake in three blue-chip firms--IOC, BHEL and NALCO-- to help meet disinvestment target of Rs 43,425 crore set for this fiscal. The stake sale in these companies would fetch about Rs 13,000 crore to the exchequer. The government intends to sell its 10 per cent stake each in Indian Oil Corporation (IOC) and National Aluminium Company Limited (NALCO), while it will put on block its 5 per equity shares in Bharat Heavy Electrical Ltd (BHEL)